Updated Duplex with Two-Car
For Sale
$329,900
1515 N 57th St, Milwaukee, WI 53208
Each unit includes two bedrooms, an updated kitchen with appliances, a formal dining room, and an updated bathroom.
Property Size1,942 SF
Price / SF$169.88
Days on Market48
Property Features for 1515 N 57th St
General Information
Standard status
Active
Size
1,942 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
enclosed front porch
built-in buffet
walk-in pantry
hardwood floors
built-in bookcases
artificial fireplace
Building Details
Year Built
1924
Construction
bungalow
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Beth Jaworski
(414) 520-8555
Source:
Levelupwi
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 7 at 3:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shorewest Realtors, Inc.
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Investment Insights
Based on property information with market context.
Located at 1515 N 57th Street in Milwaukee’s Washington Heights neighborhood, this duplex offers two residential units with matching two-bedroom layouts. Both units include updated kitchens with appliances, formal dining rooms, updated bathrooms, and natural woodwork.
The main-level residence adds a full-width enclosed front porch, hardwood floors, a walk-in pantry, built-in dining-room buffet, living-room bookcases, and an artificial fireplace. A side driveway leads to a two-car garage. The property is minutes from downtown Milwaukee and Wauwatosa Village, with Valentine Coffee, the Times Theater, and Neighborhood Draft described as nearby local destinations.
The main-level residence adds a full-width enclosed front porch, hardwood floors, a walk-in pantry, built-in dining-room buffet, living-room bookcases, and an artificial fireplace. A side driveway leads to a two-car garage. The property is minutes from downtown Milwaukee and Wauwatosa Village, with Valentine Coffee, the Times Theater, and Neighborhood Draft described as nearby local destinations.
Key Highlights
- Two units, each with two bedrooms
- Updated kitchens with appliances included
- Formal dining rooms and updated bathrooms in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,535
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,700
$390.7K
Cap Rate 7%
$279,071
$279.1K
Cap Rate 9%
$217,056
$217.1K
Market Conditions
NOI Build-Up for 1,942 SF
Gross rent
$29.1K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$27.9K $14.37/SF
− OpEx
−$8.4K −$4.31/SF
NOI
$19.5K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,700
Cap Rate 7%
$279,071
Cap Rate 9%
$217,056
Alternative Uses
Best Use
Multifamily LT 5
$279.1K
$244.2K – $325.6K
NOI $19,535 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$258.4K
$226.1K – $301.5K
NOI $18,088 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,668 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes two bedrooms, an updated kitchen with appliances, a formal dining room, and an updated bathroom.
Where is this duplex located?
The property is located at 1515 N 57th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two units, each with two bedrooms; Updated kitchens with appliances included; Formal dining rooms and updated bathrooms in both units
